We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Reasons Why You Should Retain ABM Industries (ABM) Stock Now
Read MoreHide Full Article
ABM Industries (ABM - Free Report) has an impressive Growth Score of A. This style score condenses all the essential metrics from a company’s financial statements to get a true sense of the quality and sustainability of its growth.
ABM drives growth with strategic acquisitions and the ELEVATE plan. The "2020 Vision" initiative centralized functions, thus boosting ABM's premier facilities' management status.
The company has gained 6.4% in the past six months, outperforming its industry’s 3.3% rise.
ABM Industries is dedicated to fostering growth by employing a dual approach of strategic acquisitions and organic investments. The enduring strategic plan, ELEVATE, is crafted to elevate client services, enhance transparency and efficiency, cultivate in-house talent management capabilities and modernize the digital ecosystem. The implementation of ELEVATE is expected to substantially propel ABM Industries' organic growth, strengthen its strategic positioning and enhance overall profitability.
In 2015, ABM initiated the "2020 Vision" transformative journey to attain sustainable and profitable growth by adopting an industry-focused go-to-market strategy. Within this framework, the company centralized key functional areas, strengthened sales capabilities, and strategically invested in service delivery tools and processes to reinforce essential operating practices for its long-term success. These endeavors have consequently enhanced the quality of ABM's Janitorial, Parking, Facilities Services, Building & Energy Solutions, and Airline Services, thus establishing its stature as a premier integrated facilities management company.
ABM is gaining from strategic partnerships, which are helping the company grow its customer base as well as global footprint. ABM recently expanded its partnership with LaGuardia Gateway Partners at LaGuardia Airport Terminal B. Following LGP's historic $5.1 billion redevelopment, ABM will be providing comprehensive facility operations and services, ensuring a safe, seamless experience across the 1.3 million square foot facility.
Further, ABM collaborated with the Providence Public School District in Rhode Island for a three-year contract, enhancing custodial, grounds and maintenance operations to better serve 22,000 students. Furthermore, ABM partnered with Graham Ford in Mansfield, OH, to accelerate EV adoption, installing six Level 2 chargers and three DC fast chargers, thus showcasing its pivotal role in supporting the nation's automakers in the EV market.
A Risk
ABM Industries' current ratio at the end of the third quarter was pegged at 1.41, lower than the current ratio of 1.47 reported at the end of the prior quarter. A decreasing current ratio does not bode well for the company.
ABM currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Here are a few better-ranked stocks from the Business Services sector:
Gartner (IT - Free Report) : The Zacks Consensus Estimate for Gartner’s 2023 revenues indicates 7.9% growth from the year-ago reported figure, while earnings are expected to decline 1.9%. The company has beaten the consensus estimate in each of the four quarters, with an average surprise of 34.4%.
DocuSign (DOCU - Free Report) : The Zacks Consensus Estimate for DocuSign’s 2023 revenues indicates 9.2% growth from the year-ago reported figure, while earnings are expected to grow 41.4%. The company has beaten the consensus estimate in three of the past four quarters and matched on one instance, the average surprise being 5.4%.
DOCU presently flaunts a Zacks Rank of 1.
Broadridge Financial Solutions (BR - Free Report) : The Zacks Consensus Estimate for Broadridge’s 2023 revenues indicates 7.7% growth from the year-ago reported figure, while earnings are expected to grow 10.1%. The company has beaten the consensus estimate in three of the past four quarters and matched on one instance, the average surprise being 5.4%.
BR currently has a Zacks Rank #2 (Buy).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Reasons Why You Should Retain ABM Industries (ABM) Stock Now
ABM Industries (ABM - Free Report) has an impressive Growth Score of A. This style score condenses all the essential metrics from a company’s financial statements to get a true sense of the quality and sustainability of its growth.
ABM drives growth with strategic acquisitions and the ELEVATE plan. The "2020 Vision" initiative centralized functions, thus boosting ABM's premier facilities' management status.
The company has gained 6.4% in the past six months, outperforming its industry’s 3.3% rise.
ABM Industries Incorporated Price
ABM Industries Incorporated price | ABM Industries Incorporated Quote
Factors That Bode Well
ABM Industries is dedicated to fostering growth by employing a dual approach of strategic acquisitions and organic investments. The enduring strategic plan, ELEVATE, is crafted to elevate client services, enhance transparency and efficiency, cultivate in-house talent management capabilities and modernize the digital ecosystem. The implementation of ELEVATE is expected to substantially propel ABM Industries' organic growth, strengthen its strategic positioning and enhance overall profitability.
In 2015, ABM initiated the "2020 Vision" transformative journey to attain sustainable and profitable growth by adopting an industry-focused go-to-market strategy. Within this framework, the company centralized key functional areas, strengthened sales capabilities, and strategically invested in service delivery tools and processes to reinforce essential operating practices for its long-term success. These endeavors have consequently enhanced the quality of ABM's Janitorial, Parking, Facilities Services, Building & Energy Solutions, and Airline Services, thus establishing its stature as a premier integrated facilities management company.
ABM is gaining from strategic partnerships, which are helping the company grow its customer base as well as global footprint. ABM recently expanded its partnership with LaGuardia Gateway Partners at LaGuardia Airport Terminal B. Following LGP's historic $5.1 billion redevelopment, ABM will be providing comprehensive facility operations and services, ensuring a safe, seamless experience across the 1.3 million square foot facility.
Further, ABM collaborated with the Providence Public School District in Rhode Island for a three-year contract, enhancing custodial, grounds and maintenance operations to better serve 22,000 students. Furthermore, ABM partnered with Graham Ford in Mansfield, OH, to accelerate EV adoption, installing six Level 2 chargers and three DC fast chargers, thus showcasing its pivotal role in supporting the nation's automakers in the EV market.
A Risk
ABM Industries' current ratio at the end of the third quarter was pegged at 1.41, lower than the current ratio of 1.47 reported at the end of the prior quarter. A decreasing current ratio does not bode well for the company.
ABM currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Here are a few better-ranked stocks from the Business Services sector:
Gartner (IT - Free Report) : The Zacks Consensus Estimate for Gartner’s 2023 revenues indicates 7.9% growth from the year-ago reported figure, while earnings are expected to decline 1.9%. The company has beaten the consensus estimate in each of the four quarters, with an average surprise of 34.4%.
IT currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DocuSign (DOCU - Free Report) : The Zacks Consensus Estimate for DocuSign’s 2023 revenues indicates 9.2% growth from the year-ago reported figure, while earnings are expected to grow 41.4%. The company has beaten the consensus estimate in three of the past four quarters and matched on one instance, the average surprise being 5.4%.
DOCU presently flaunts a Zacks Rank of 1.
Broadridge Financial Solutions (BR - Free Report) : The Zacks Consensus Estimate for Broadridge’s 2023 revenues indicates 7.7% growth from the year-ago reported figure, while earnings are expected to grow 10.1%. The company has beaten the consensus estimate in three of the past four quarters and matched on one instance, the average surprise being 5.4%.
BR currently has a Zacks Rank #2 (Buy).